{"id":66063,"date":"2023-10-12T17:54:19","date_gmt":"2023-10-12T06:54:19","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=66063"},"modified":"2025-11-11T15:20:17","modified_gmt":"2025-11-11T04:20:17","slug":"thursday-12th-october-2023-asia-pacific-markets-surge-ahead-of-u-s-inflation-data-release","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/thursday-12th-october-2023-asia-pacific-markets-surge-ahead-of-u-s-inflation-data-release\/","title":{"rendered":"Thursday 12th October 2023: Asia-Pacific Markets Surge Ahead of U.S. Inflation Data Release"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 1.72%, Shanghai Composite up 0.91, Hang Seng up 2.01% ASX up 0.04%<\/li>\n\n\n\n<li>Commodities : Gold at $1894.45 (0.38%), Silver at $22.38 (1.15%), Brent Oil at $85.28 (-0.38%), WTI Oil at $83.35 (-0.44%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.531, UK 10-year yield at 4.373, Germany 10-year yield at 2.692<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) Building Permits m\/m -0.1% vs -0.1% expected<\/li>\n\n\n\n<li>(USD) Core PPI m\/m -0.1% vs -0.1% expected<\/li>\n\n\n\n<li>(USD) PPI m\/m -0.1% vs -0.1% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Stock markets in the Asia-Pacific region experienced significant gains, with Hong Kong leading the way by surging over 2%. This surge was driven by investor anticipation of key U.S. consumer inflation data, which holds significance in influencing the Federal Reserve&#8217;s upcoming rate decision during its policy meeting beginning on October 31.<\/p>\n\n\n\n<p>Hong Kong&#8217;s Hang Seng index outperformed, posting an impressive gain of 2.07%, while China&#8217;s CSI 300, its benchmark index, also exhibited positive momentum, rising by 0.83%.&nbsp;<\/p>\n\n\n\n<p>In other regional markets, Australia&#8217;s S&amp;P\/ASX 200 recorded a modest increase of 0.04%, closing at 7103.1 points. Japan&#8217;s Nikkei 225 experienced substantial growth, surging by 1.72%, with shares of Fast Retailing, the owner of Uniqlo, up 0.48% in anticipation of its full-year earnings report due later in the day.&nbsp;<\/p>\n\n\n\n<p>South Korea&#8217;s Kospi index also rose by nearly 1%, maintaining its position near two-week highs. Meanwhile, in the U.S., the previous day saw all three major stock market indexes closing in the green, with the Dow Jones Industrial Average rising by 0.19%, the S&amp;P 500 gaining 0.43%, and the Nasdaq Composite adding 0.71%.<\/p>\n\n\n\n<p>Economists, in a survey conducted by Dow Jones, anticipate a 0.3% month-over-month increase in the upcoming U.S. inflation data, coupled with a 3.6% rise from the previous year. These market movements and inflation data are closely watched by investors and analysts as they shape the economic landscape and influence investment decisions.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; USD Core CPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD CPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD CPI y\/y<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Unemployment Claims<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Stock markets in the [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":79815,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[196,215,339],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66063"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=66063"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66063\/revisions"}],"predecessor-version":[{"id":66072,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66063\/revisions\/66072"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/79815"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=66063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=66063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=66063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}